"We expect him to remain with us for many, many years," an ABC News spokeswoman Heather Riley said. "This represents what he wanted -- he is committed to 'GMA' and 'This Week,' and understands the power of those platforms. We are thrilled that the team is locked in and that the deal was done so quickly and with such goodwill from all sides."

Stephanopoulos will also remain as host of Sunday morning talk show This Week.

"This represents what he wanted -- he is committed to 'GMA' and 'This Week,' and understands the power of those platforms," Riley said. "We are thrilled that the team is locked in and that the deal was done so quickly and with such goodwill from all sides."

"George is vital to the success of the news division and will continue to be a leader here at ABC News. We are united as a team and over the past few months we have not missed a beat -- in fact our audience has only grown," she added.

United Press International is a leading provider of news, photos and information to millions of readers around the globe via UPI.com and its licensing services.

With a history of reliable reporting dating back to 1907, today’s UPI is a credible source for the most important stories of the day, continually updated - a one-stop site for U.S. and world news, as well as entertainment, trends, science, health and stunning photography. UPI also provides insightful reports on key topics of geopolitical importance, including energy and security.

A Spanish version of the site reaches millions of readers in Latin America and beyond.

UPI was founded in 1907 by E.W. Scripps as the United Press (UP). It became known as UPI when after a merger with the International News Service in 1958, which was founded in 1909 by William Randolph Hearst. Today, UPI is owned by News World Communications.